It’s the not-so-little settlement that could.

Former KLA-Tencor Corp. executives have agreed to settle a lawsuit over stock option backdating after four years of torturous litigation, according to a court filing (.pdf) Monday. Around $33 million in cash will be paid by the executives and the Milpitas, Calif., company’s insurer to KLA, according to lawyers briefed on the settlement, who requested anonymity because details of the deal haven’t been made public.

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